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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: lurqer who wrote (30403)	2/3/2001 2:18:08 PM
From: lurqer	Read Replies (2) of 65232

As I mentioned in an earlier post today in the ST I believe emotion is a driving force for price in the market. To probe that emotion TA can be utilized. I'm not a chartist; I use indicators - primarily sentiment and monetary. But I believe it's important to "have a passing acquaintance" with charts. Not having the ability to post charts, I'll "rely on the kindness of others". Both Paul Shread and Chris generously share their charts on the Stock Attack thread. From Paul cache.wsrn.com one can see the gap to which Ö¿Ö referred prominently displayed. Also note the labeled Head & Shoulders formation and the rising channel lines. Currently the lower channel line would yield "a downside target" of about 2550. The breaking of the H&S neckline yields a target of about 2500. This latter number is more consistent with what AllensAlias gets (2463 - 2490) from a log chart. A similar picture can be gotten from Chris' Naz 100 chart geocities.com Note the descending line. Will this line and the rising channel line lead to a triangular indecision pattern? "Only time will..." Further insight can be gleaned from Chris' post of Claud's VIX chart pw1.netcom.com If one is expecting a definitive answer of future market direction from TA - Good Luck. It "ain't gonna happen". But indications and probabilities that narrow the possibilities are useful. BTW an additional link obtained from the Stock Attack thread (from Kip518) is the analysis stockcharts.com Note the chart at the end. Now what we need is a P&F analysis from Dealie. lurqer

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